Global Drivers of Agricultural Demand and Supply

Ronald Sands (), Carol Jones and Elizabeth Marshall ()

No 186137, Economic Research Report from United States Department of Agriculture, Economic Research Service

Abstract: Recent volatility in agricultural commodity prices and projections of world population growth raise concerns about the ability of global agricultural production to meet future demand. This report explores the potential for future agricultural production to 2050, using a model-based analysis that incorporates the key drivers of agricultural production, along with the responses of producers and consumers to changes to those drivers. Model results show that for a percentage change in population, global production and consumption of major field crops respond at nearly the same rate. In response to a change in per capita income, the percentage change in crop consumption is much lower, about one-third the percentage change in income. The model also suggests that the global economy absorbs changes in agricultural productivity growth through compensating responses in yield, cropland area, crop prices, and international trade.

Keywords: Crop Production/Industries; Demand and Price Analysis; Environmental Economics and Policy; Land Economics/Use (search for similar items in EconPapers)
Pages: 56
Date: 2014-09
New Economics Papers: this item is included in nep-agr and nep-env
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersrr:186137

DOI: 10.22004/ag.econ.186137

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